THE TOP DECK of India Inc has reason to cheer. The average compensation of a chief executive officer (CEO) has risen to 13.8 crore a year in 2024-up 40% compared with prepandemic levels in 2020- according to a survey by audit and consulting firm Deloitte.
In contrast, the average salary of junior executives is estimated to have grown at about half that rate over the same period.
In the CEO bracket, promoter CEO salaries are growing faster than those of professional CEOs. For instance, CEOs who are also promoters or from the promoter family are paid ₹16.7 crore on an average, while professional CEOs receive an average pay of ₹13 crore.
The number of CEOs earning ₹20 crore or more has doubled over the past four years according to the survey, which has a base of 400 listed and unlisted firms across sectors.
The proportion of promoter CEOs earning more than 20 crore a year tripled from 9% in 2020 to 26% in 2024, while that of professional CEOs in the same bracket, increased from 12% in 2020 to 17% in 2024.
This story is from the April 09, 2024 edition of Financial Express Mumbai.
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This story is from the April 09, 2024 edition of Financial Express Mumbai.
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